10
Oct
09:27
FMG buys Nullagine
Australia’s FMG has agreed to buy the remaining 75% share in the Nullagine Joint Venture from BC Iron for AUD 1 ($0.76).
The miner says it will assess the viability of restarting the 6 million tonne/year operation with regard to market conditions, Kallanish notes.
FMG will take full control of the assets and take the liabilities of the operation, as well as paying BC Iron a royalty on ore shipped from the mine. This royalty will be withheld up to AUD 7.…
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Anonymous
Very good overview of the weekly steel market.
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